Guideline Value for Periyar Street

Periyar Street guideline value

The current guideline value of Periyar Street in Parangimalai village is Rs 3,850 per sq.ft, effective from 1 July 2024. This street falls under the Chennai South Joint II SRO and is classified as Residential Class II Type - I.

How the guideline value of Periyar Street has changed

The guideline value for Periyar Street has seen significant changes over the years. In the 2002 revision, the value was Rs 256 per sq.ft. This increased to Rs 320 per sq.ft in 2003, marking a 25% rise. The value continued to climb, reaching Rs 800 per sq.ft in 2007, which was a substantial increase of 150%. However, the value then experienced a remarkable jump to Rs 3,500 per sq.ft in 2012, reflecting a 338% increase. The 2017 revision saw a decrease to Rs 2,345 per sq.ft, a drop of 33%. The value then rose again to Rs 3,500 per sq.ft in 2023, followed by a final increase to Rs 3,850 per sq.ft in the 2024 revision, which is a 10% rise from the previous year.

Overall, from 2002 to 2024, the guideline value has increased by 1,404%, showcasing a significant upward trend in the value of this street over the years. The register has no figure for the years between the revisions mentioned above.

Guideline values in Parangimalai

In Parangimalai, there are 233 streets under the Chennai South Joint II SRO that have a 2024 guideline value ranging from Rs 2,750 to Rs 11,000 per sq.ft. The median value is Rs 3,850 per sq.ft, which is equal to the current guideline value of Periyar Street.

• Perumal Koil Street: Rs 3,850 per sq.ft (2024)
• Perumal Street: Rs 3,300 per sq.ft (2024)
• Periya Palaiyathamman Koil Street: Rs 3,300 per sq.ft (2024)
• Periya Palaiyathamman Koil Lane: Rs 3,300 per sq.ft (2024)
• P.C.M. Colony: Rs 3,300 per sq.ft (2024)
• Pillaiyar Koil Street: Rs 3,300 per sq.ft (2024)

Stamp duty and registration fee for property in Periyar Street

For a 1,000 sq.ft plot at the current rate of Rs 3,850 per sq.ft, the guideline value amounts to Rs 38,50,000. The stamp duty at 7% would be Rs 2,69,500, and the registration fee at 2% would be Rs 77,000, together totaling Rs 3,46,500. It is important to note that duty is charged on the guideline value or the sale price, whichever is higher. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Periyar Street?

The Sub Registrar Office that covers Periyar Street is the Chennai South Joint II Sub Registrar Office, located at Integrated Building For Offices Of The Commercial Taxes And Registrations Department, Fanepet Nandanam, Chennai - 600 035. You can find your SRO for more information.

How the guideline value is used when you buy or sell in Parangimalai

The guideline value plays a crucial role in the registration process when buying or selling property in Parangimalai. It is used to determine the stamp duty and registration fees that need to be paid during the transaction. Buyers and sellers must refer to the current guideline value to ensure they are compliant with the local regulations.

When a property is registered, the guideline value is considered either the sale price or the guideline value, whichever is higher. This ensures that the government receives appropriate revenue from property transactions in the area.

Frequently asked questions

What is the current guideline value of Periyar Street?

The current guideline value of Periyar Street is Rs 3,850 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed significantly from Rs 256 per sq.ft in 2002 to Rs 3,850 per sq.ft in 2024, reflecting an overall increase of 1,404% over the years.

What is the land classification for Periyar Street?

Periyar Street is classified as Residential Class II Type - I under the Chennai South Joint II SRO.

What are the other streets in Parangimalai with their guideline values?

Other streets in Parangimalai include Perumal Koil Street at Rs 3,850 per sq.ft, and several others at Rs 3,300 per sq.ft. You can find the full list above.

Where is the Sub Registrar Office for Periyar Street located?

The Sub Registrar Office for Periyar Street is located at Integrated Building For Offices Of The Commercial Taxes And Registrations Department, Fanepet Nandanam, Chennai - 600 035.